Groupon Raises Revenue 13% in August
While other daily deals fall, Groupon continues to grow.
Despite SEC questions and an IPO roadshow cancellation, Groupon is still going strong. In August, the company grew its revenue by 13% – an impressive number considering the challenge of competing in the daily deals space. Groupon also added 2% to its market share.
According to a TechCrunch report, daily deals aggregator Yipit has released some Groupon numbers for the month of August, showing that the company grew its revenue to $120.7 million – up from $106 million in July. Groupon Getaways, the new venture between Groupon and Expedia (NASDAQ: EXPE), helped bolster the company's sales, accounting for $9.6 million in revenue last month, compared to $5.7 million in July.
On the flipside, LivingSocial's revenue dropped 3% in August. TechCrunch says that the decline can be blamed on a 6% decrease in the number of vouchers sold per deal “and a 1% decrease in the average price per voucher.”
This decline occurred at a time when LivingSocial increased the number of deals it offered by 4%.
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